Europe Black & Wood Pellets Market to Reach US$ 25,812.9 Million by 2032

According to Future Market Insights (FMI), Europe black & wood pellets market is projected to grow at a firm 9.0% CAGR during the assessment period from 2022 and 2032. Overall black & wood pellet sales across Europe are projected to total a market valuation of US$ 25,812.9 Mn by 2032.

Rising usage of black & wood pellets in power and heat generation applications is a crucial factor expected to drive the market across Europe during the projection period. The Europe black & wood pellets market is expected to be dominated by countries like Germany, the U.K. & Italy and this trend is predicted to continue during the forecast period.

Black & wood pellets are an eco-friendly, renewable, sustainable, and clean kind of biomass. The market for black & wood pellets is rising due to the increased need for renewable energy worldwide and growing focus on limiting the use of fossil fuels that contribute to global warming.

Demand for black & wood pellets across Europe will also be driven by growing environmental concerns and rising government incentives toward sustainability.

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People in colder climates choose wood pellet stoves because natural gas is more expensive than wood pellets. Wood pellets are becoming extremely prevalent as a low-cost domestic heating option. However, because of the superior features of black pellets, the black pellets market is predicted to rise at a rapid pace.

Wood pellets are widely consumed for various applications in European countries such as the United Kingdom, Italy, Germany & others. The increasing cost of energy and electricity, and fluctuations in the oil & gas industry are propelling the demand for renewable products for power generation

The demand for black & wood pellets in the industrial sector is increasing as the pellet-based power plant gains popularity as a preferred substitute for coal-based power plants. Additionally, governments all over the world are eager to promote the use of renewable energy in the transportation, industrial, and residential sectors.

Subsequently, consumers in industrialized nations like Europe are more environmentally conscious and continue to rely more and more on renewable energy resources. All these developments will positively impact black & wood pellet sales over the next ten years.

“Over the assessment period, sales of black & wood pellets are expected to be driven by the growing need for renewable energy sources for power generation & heat generation application,” says an FMI analyst.

Key Takeaways:

• By type, wood pellets segment is projected to hold approximately 90-97% of the total market share in 2022 while black pellets segment is set to grow at the fastest CAGR of 9.6% through 2032.
• The torrefaction sub-segment of the black pellets segment is anticipated to grow at 9.5% CAGR through 2032.
• By application, heat generation sub-segment of black pellets is set to grow at 10.0% CAGR during the forecast period.
• The industrial pellet for CHP/district heating segment is expected to reach about US$ 4,680.9 Mn by the end of the forecast period.
• The black & wood pellets market in the U.K. is expected to create an incremental $ opportunity of US$ 4,692.8 Mn during the forecast period.
• Germany’s black & wood pellets market is forecast to total a valuation of US$ 2,626.7 Mn by 2032.

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Who is Winning?         

Key market participants of the Black & Wood Pellets market elaborated in the report include Idemitsu Kosan Co., Ltd., Blackwood Technology, Zikha Biomass Energy, Arbaflame AS, TTCL Public Company Limited, Verdo Holding A/S, Airex Energie Inc., Graanul Invest, Iwatani Corporation, Land Energy Girvan Limited, Schwaiger Holzindustrie GmbH & Co. KG, Holzwerke Weinzierl GmbH, Balcas Energy, Enviva LP, Drax Group, Ambienta Biomasse, & Naparpellet.

To enhance their market presence and gain greater market shares, prominent market participants are actively focusing on acquisitions, collaborations, and geographical expansions.